SATTER FOUNDATION | 2013 ANNUAL REPORT To help solve the complicated problems the poor face, we seek to empower the powerless by investing in bold, tactical, and innovative social entrepreneurs and organizations. Table of Contents 2 Founder’s Letter: Muneer Satter 5 Founder’s Letter: Kristen Hertel 6 Mission and Vision 7 Historical Grant-Making Trends 9 Grantee Profile: Room to Read 10 Grantee Profile: The Nature Conservancy 13 Grantee Profile: Beyond Sports Foundation 14 Grantee Profile: One Acre Fund 17 Grantee Profile: Joffrey Ballet 18 Satter Foundation 2013 Grantees 23 Financial Statements

The Satter Foundation 2013 Annual Report | 1 CREATINGREALANDPERMANENTCHANGE

As the years go by, the issues we address may change, but we hope to always look beyond the easy wins and take on risky projects that aim for lasting impact.

In 2013, the foundation supported many organizations that put in leading-edge thinking, tremendous dedication, and hard work to help fulfill their missions.

Kristen and I started the Satter Foundation 17 years ago to help In 2013, the foundation supported many organizations that put in the underprivileged—whether they be in our local communities or leading-edge thinking, tremendous dedication, and hard work to help around the world. Our focus is on creating real and permanent fulfill their missions. Their achievements include: change in their lives and in the environment we all share. It’s simply • Helping to reduce violence in Uganda by 97 percent not enough to “put Band-Aids on bullet holes,” as Shannon Sedgwick Davis, CEO of one of our grantees, the Bridgeway Foundation, • Confronting dictators around the world says. To help solve the complicated problems the poor face, we • Preserving over 310,000 acres of land in northwestern Montana seek to empower the powerless by investing in bold, tactical, and We also started the foundation as a way to pass on a legacy of giving innovative social entrepreneurs and organizations. to our daughters. My own introduction to philanthropy was through Our approach to philanthropy is similar to venture funding: success my mother’s work as a civil rights activist. Today, she’d be proud of lies in backing individuals with big ideas who are doing something our work to improve educational opportunities—a core human right— important, in having the patience to help grow organizations, and in the United States and to increase the opportunities available to in being comfortable with shifting approaches when progress isn’t girls around the world. As the years go by, the issues we address made and initiatives are stuck outside the winner’s circle. We’re not may change, but we hope to always look beyond the easy wins and afraid to take on big, difficult issues—spreading democracy and take on risky projects that aim for lasting impact. human rights; creating economic opportunities for the poor, We invite you to read in these pages about the innovative and inspir- including supporting access to quality education; preventing atroci- ing people the foundation supports, and we welcome your thoughts. ties; and protecting the environment—even as we also recognize the importance of addressing immediate and local needs. Sincerely, ”Muneer Satter The Nature Conservancy has preserved the Swan Mountain Range in Montana, which remains one of the most intact places on earth; it hasn’t experienced animal extinction in 200 years. Read more about the organization’s work on page 10.

The Satter Foundation 2013 Annual Report | 2 & 3

An Evanston High School student and Beyond Sports Foundation participant trains for a college athletic career. Read more about the organization’s work on page 13.

The Satter Foundation 2013 Annual Report | 4 & 5 HELPINGOTHERSOVERCOMECHALLENGES

My personal experiences have shaped the education, medical research, and social-service issues I invest in and have inspired my reason for giving: so that others can avoid or overcome challenges similar to those I have faced.

While Muneer’s interests are often globally focused, mine center on bold leaders who are working locally and who are actively growing their grassroots endeavors.

As Muneer and I strive to achieve our goal of making meaningful Of course, people from disadvantaged backgrounds need more than and lasting change in the lives of the poor, we do so in complemen- financial support to overcome the many hurdles they face, which is tary ways. While Muneer’s interests are often globally focused, mine why the foundation also invests in organizations that provide the edu- center on bold leaders who are working locally and who are actively cation, mentorship, and guidance that is critical to children’s ability to growing their grassroots endeavors. These efforts resonate with me succeed in life. You can read more about one such organization, the because I know what it’s like to not have two nickels to rub togeth- Beyond Sports Foundation, on page 13. er, to depend on a scholarship for a college education, to struggle Our local grantees have accomplished much in 2013. For example: with depression, and to spend long hours in the NICU. My personal experiences have shaped the education, medical research, and • NorthShore University HealthSystem Foundation’s postpartum social-service issues I invest in and have inspired my reason for depression program continues to expand its free perinatal giving: so that others can avoid or overcome challenges similar to support groups to low-income women. It also has extended its those I have faced. screening pilot program so women can be screened for depression up to one year after giving birth. The foundation’s approach, however, is the same no matter the grantee’s size or location: we take a careful look at its organizational • Two NIH-funded physician scientists have leveraged the leadership, its capacity to achieve the impact it seeks, and its ability foundation’s gifts to obtain subsequent federal funding to support to leverage our grants to ensure that our support will build capacity, their research on preventing preterm labor. catalyze fund-raising and partnerships, and magnify impact. Take, for • With our support, Project Excite, which previously only worked with example, the research on preterm labor the foundation supports at students up to the eighth grade, has hired a high-school counselor. Evanston Hospital. Our grants allowed the lab to bring on research This is allowing the organization to work with students all the way staff. This, in turn, positioned the lab to receive significantly more through high school, better preparing them for collegiate success. funding from the National Institutes of Health (NIH). Another lab, I look forward to seeing the work of our grantees take root in our this one at the University of Chicago, is researching the use of adult communities and to supporting them, with both grant making and stem cells to repair, and even grow, organs. Our support has helped guidance, as they grow. I would welcome the opportunity to tell you this lab expand its funding base and continue its important, poten- more about their efforts. tially revolutionary work. Regardless of their size, our investments in these types of grantees will have profound effects on the world. Sincerely, ”Kristen Hertel ---

MISSION

The Satter Foundation aims to empower the powerless and to preserve our world’s land and water by investing in bold, tactical, and innovative social entrepreneurs and organizations.

VISION

We envision a world where all people—no matter where or in what circumstances they are born— have the resources and opportunities to live a free, educated, prosperous, and healthy life.

The Satter Foundation 2013 Annual Report | 6 & 7 HISTORICALGRANT-MAKINGTRENDS

TOTAL DOLLARS GRANTED TO DATE: $28.7 MILLION

Total Dollars Awarded 2013 Funding by Issue Area 2013 Funding Distribution per Year 1997–2013 by Location

$6,000,000

47%

$5,000,000 40%

$4,000,000 24% 38.38%38.38% 60000006000000 14% 36% $3,000,000

10% 50000005000000 24.01%24.01% 15.67%15.67% 8%

9.45% 40000004000000 9.45% 2% $2,000,000 8.40% 8.40%2% 2.29%2.29% 1.77%1.77% 30000003000000 ■ Providing■ Providing educational educational opportunities opportunities | $2,283,333| $2,283,333 18% ■ Promoting■ Promoting human human rights rights & democracy | $1,370,000 20000002000000 $1,000,000 & democracy | $1,370,000 ■ Providing■ Providing health health & human & human services services | $778,000| $778,000 ■ Protecting■ Protecting the the environment environment & species & species | $535,000| $535,000 10000001000000 ■ Building■ Building financial financial stability stability & opportunity & opportunity | $475,000| $475,000 ■ Supporting■ Supporting the the arts arts | $131,000| $131,000 ■ International■ International | $2,650,000 | $2,650,000 ChicagoChicago | $2,033,333 | $2,033,333 0 ■ Supporting■ Supporting & honoring & honoring ■ ■ veteransveterans | $106,000| $106,000 UnitedUnited States* States* | $995,000 | $995,000 0 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 ■ ■ 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 * excluding Chicago funding Room to Read is helping to rebuild Cambodia’s educational system.

The Satter Foundation 2013 Annual Report | 8 & 9 ROOMTOREAD

Room to Read’s motto is “World change starts with educated children.” It works to improve literacy and gender equality in education in 10 Asian and African countries, reversing the notion that where you are born determines your success in life. It establishes libraries, constructs classrooms, publishes local- language children’s books, trains educators, and supports girls’ education. In its 14 years of operation, the organization has reached 8.8 million children.

The foundation has given $3.1 million since 2004, which has helped educate approximately 80,000 children, 80,000setting them on a sturdy path to success. Its methods: “Room to Read is what How the Satter Foundation has helped: “What’s key about the Satter Foundation’s venture capitalists call a ‘pure play,’” says The foundation was an early supporter of support is that it provides unrestricted, large John Wood, the organization’s founder. “We Room to Read and Muneer was co-chair- donations early in the year. This allows do one thing—education for the poorest man of the board for four years. Wood says us to have some flexibility with where we of the poor—and we do it well.” The orga- that Muneer’s support extends to offering deploy the money, and to have the security nization focuses on scaling its work and crucial advice and organization-defining of knowing we’ll have funds throughout the keeps overhead low. In particular, it takes an guidance. “As we were expanding into our year,” says Wood, who points to this approach entrepreneurial approach to crowdsourc- first African country, we discovered two as a model for other large donors. The foun- ing. “We were on this trend early, but instead staff members had stolen some funding. We dation has given $3.1 million since 2004, of concentrating efforts online, we built fired them, but I wondered if I should tell our and Wood estimates that it has helped on-the-ground networks. We now have more investors. Many people said no, but Muneer educate 80,000 children, setting them on a than 50 fund-raising chapters worldwide told me my decision would be a test of what sturdy path to success. that are staffed by professionals who kind of organization Room to Read was What’s next for Room to Read: Room to volunteer their time to fund-raise for the going to be. So I called our major donors, Read is developing new ways to quickly organization,” he says. which gained the organization respect scale its success beyond the 10 countries in Its impact: Room to Read has established among important stakeholders.” which it currently works. In addition, it 16,000 libraries and constructed 1,800 Muneer’s advice also helped when Wood aspires to reach its 10 millionth child by schools. It has published 1,029 original was deciding whether to give up his role as the end of 2015. To achieve this goal, children’s books and distributed more than CEO in favor of becoming chairman and it has launched Destination Literacy—a 14 million copies. It has also used tutoring driving fund-raising. “He pointed out that I $20 million, 20-month initiative—to support and mentoring to prepare girls to thrive was the only person who could tell my its literacy and girls’ education work. It also through secondary school. To date, 27,000 specific story, but we could find someone seeks to expand its girls’ education program young women have participated in this pro- else to fill the CEO position.” Muneer has to 34,000 participants, helping these gram. Of these, 96 percent have graduated also been generous with his introductions to students become fluent readers by the end from secondary school and 73 percent have other significant donors, which Wood says of second grade. moved on to higher education. magnifies his impact. THENATURECONSERVANCY

The Nature Conservancy (TNC) preserves the critical lands and waters upon which all life depends. With such an ambitious goal and a remarkable record of success, it’s no surprise that the 62-year-old organization is the biggest environmental organization in the world, with 4,000 employees, 600 of whom are scientists, and more than one million members. Because of its reach and resources, it concentrates on sizable and significant challenges. To date, TNC has protected more than 119 million acres of land and thousands of miles of rivers worldwide, and operates more than 100 marine conservation projects.

TNC developed a structured deal to purchase 310,000 acres of land in northwest Montana. This land is an important habitat along a grizzly bear migration route.

Its methods: 310,000“The Nature Conservancy is How the Satter Foundation has helped: TNC, the Costa Rican government, and guided by science and is local in orientation, “The Satter Foundation is a superb and other partners protect 10 percent of the which allows the organization to appeal to strategic supporter of TNC,” says Tercek. country’s land and marine ecosystems. those who aren’t necessarily conservation- “As the leader of our finance committee, TNC is also working in Borneo’s rain ists but who care deeply about the land Muneer oversees the investment of the forests to show that it’s possible both and water in their communities,” says organization’s $1.8 billion long-term portfo- to preserve vital habitat and generate a Mark Tercek, president and CEO. The lio, including the organization’s $1.1 billion revenue stream that ensures economic and organization also puts a strong emphasis endowment. He’s highly engaged and brings natural-resource sustainability. “This project on pragmatism. “We’re not interested in incredibly valuable financial and business is important as it will demonstrate the ideological debates—we just want to get acumen to the board.” The foundation’s feasibility of our market-based approach to things done,” says Tercek. To this end, it support has been especially valuable conservation. The political climate has made partners with seemingly strange bedfellows, because it often is given for projects that funding this project challenging, but be- including ranchers and major chemical are vitally important but difficult to fund. For cause of the Satter Foundation’s leadership, companies, and buys land outright in order example, the foundation recently supported we have been able to attract other donors as to protect it. “We also take a businesslike the Montana Legacy project. “We devel- well,” says Tercek. approach to conservation. We have a balance oped a structured deal to purchase 310,000 What’s next for the Nature Conservancy: sheet and a credit rating. We’re basically an acres of land in northwest Montana for “We are launching an initiative that uses our investment bank for nature,” he says. $500 million. This land is an important science to work with big business to show Its impact: In 2013 alone, TNC has safe- habitat along a grizzly bear migration route. how it can incorporate sustainability into its guarded and restored land and waters Muneer was instrumental in helping ensure business model to maintain or improve on multiple continents. Its efforts include we weren’t taking undue financial risk. The financial benefits,” says Tercek. The organi- expanding Australia’s natural reserve sys- foundation also agreed to donate a million zation is building a team that understands tem by more than 20 million acres; helping dollars to make it happen. As a result, all the science and has the skill set to talk to to support Indonesia’s declaration of nearly species that were there when Lewis and those in the business sector. It aims for this 11.4 million acres of marine waters as Clark traveled through are still—and will project eventually to become self-sufficient a shark sanctuary; protecting drinking continue to be—found there,” Tercek says. and produce its own returns. The Satter water for more than 70,000 residents in The Satter Foundation was also a strategic Foundation has agreed to provide seed Bloomington, IL; and establishing China’s partner in TNC’s efforts in Costa Rica. The funding for this project. first land trust reserve. foundation gave a million-dollar gift to help In Los Rios, Chile, the Nature Conservancy acquired and manages the nearly 150,000- acre Valdivian Coastal Reserve, home to alerce trees (Fitzroya cupressoides). These trees can live to be 4,000 years old, making them the second- longest-lived tree species in the world. The Satter Foundation contributed a million dollars to help fund this critical acquisition.

The Satter Foundation 2013 Annual Report | 10 & 11 BEYONDSPORTSFOUNDATION

A Beyond Sports Foundation student-athlete has her sights on a track scholarship.

The Satter Foundation 2013 Annual Report | 12 & 13 BEYONDSPORTSFOUNDATION

Beyond Sports Foundation believes in the power of sport to transform lives. The organization helps athletically talented, underserved Chicago high-school students secure college athletic scholar - ships. Its student-athletes have the potential to play at the college level but lack the resources to navigate the complexities of college recruiting. Beyond Sports Foundation provides the academic assis- tance, skills, and support these student athletes need to help them through the competitive acceptance process, position them to excel in their college careers, and empower them to succeed as young adults.

One hundred percent of the organization’s student-athletes have graduated high school and matriculated to college.

Its methods: “Our mission100% is to turn other support as needed. The organization to local impact and is a very hands-on board athletic ability into economic opportunity to intentionally works with a small pool of member. She offers a valuable voice and help underserved student-athletes succeed students, which helps it achieve a deeper both her financial support and board service in life,” says Kim Michelson, Beyond Sports individual impact. “A cookie-cutter program have been critical for our operations,” says Foundation’s executive director. The won’t help kids make it out of their under- Michelson. The Satter Foundation has do- organization also recognizes that students served neighborhood,” says Elias Karras, nated $400,000 to the organization since need more than athletic talent to reach their the organization’s founder. “Every student 2008. Its dedication has been an important full potential, so it employs a four-pillar has different needs, and we bring on part of Beyond Sports Foundation’s growth, program that provides a spectrum of a village of people to offer custom, en - especially given the grassroots nature of necessary services: athletic development, compassing support—including mentors, the organization. “Kristen’s steady support, academic development, mentorship, and coaches, and parents.” guidance, and confidence in us have allowed social programming. One hundred percent of the student- us to stay on course,” says Karras. In addition to providing state-of-the-art ath- athletes have graduated high school and What’s next for Beyond Sports Foun- letic facilities, coaching, and tailored training matriculated to college. One hundred dation: The organization aims to increase and nutrition programs, the organization percent have also received athletic scholar- the number of student-athletes it supports, provides customized tutoring services to ships or other financial aid, and all Beyond especially female athletes. It has recently help student-athletes excel in school. Sports grads participate in college ath - hired a dedicated staff person to run the Beyond Sports also pairs student-athletes letics. Its graduates have gone on to join organization’s college program. With this with mentors to increase their adult support football, track, basketball, and baseball additional capacity, it will be better able to systems. Finally, it creates programming teams at schools such as the University of support its student-athletes through the to instill social skills that prepare them for Notre Dame, the University of Iowa, and the college search, recruitment, and applica- college and beyond, including responsible University of California, Berkeley. Currently, tion process, and provide support to pro- citizenship, women’s empowerment, and job 15 Beyond Sports Foundation graduates gram graduates while they are in college. interviewing. are playing at the NCAA Division I level. It is also creating a career development Its impact: Because of the organization’s How the Satter Foundation has helped: program to show “that you don’t need to be small scale, staff members are able to Kristen has been deeply involved with the a professional athlete to escape poverty,” customize their process for each athlete, organization since it was just a concept says Karras. It is working to diversify its fund- including sport-specific training, tailored and is a founding member of the board of ing base to ensure it will be able to support academic support, recruiting guidance, and directors. “Kristen shares our commitment local student-athletes for years to come. ONEACREFUND

Seventy-five percent of the world’s poor are small farmers trying to eke out enough food to feed their families. They are hampered by outdated farming techniques, lack of quality materials, and inability to reach a market. One Acre Fund provides the support that 180,000 farm families in Kenya, Rwanda, Burundi, and Tanzania need to overcome these challenges and propel themselves out of poverty.

Since 2007, Satter Foundation support has reached approximately 43,440 people, including 7,240 female farmers who participated in One Acre Fund’s program.

43,440 Its methods: One Acre Fund offers farm- This business-like approach has enabled the last six years. And though the amount ers a comprehensive bundle of services One Acre Fund to scale quickly. “Our empha- hasn’t changed, because we’ve honed our that helps them from planting to harvest to sis on measurement keeps the organization model, the funds go further.” market. One Acre Fund provides seed and transparent and helps us focus on getting Forti points to three characteristics that fertilizer, extends credit, conducts training results. We also treat our farmers like cus- make the foundation’s approach effective. on farm techniques, offers post-harvest and tomers, further motivating us to achieve “First, the funding has been unrestricted, market support, and furnishes crop insur- good outcomes for them,” says Forti. which is really helpful. Secondly, it’s trust- ance. “This bundling is unique,” says Matthew Its impact: One Acre Fund can help farm- based funding—the foundation doesn’t Forti, the organization’s managing director. ers in Africa double their profits. “Our goal ask us to spend time creating separate re- “Usually an NGO will come in and help with is to end chronic hunger in these areas, ports just for it. Finally, the foundation has one small part of the process, but farmers enable farmers to both feed their family and provided consistent support. Being able to need all the elements to be successful.” have enough surplus crops to sell for money count on a donor is invaluable.” Since 2007, Once in the program, farmers tend to stay they can then use for school, clothing, shel- the Satter Foundation’s support has reached for the continual education and access to ter, and more,” says Forti. Indeed, 33 per- approximately 43,440 people, including seed and fertilizer. “Farmers grow with us. cent of participants spend their surplus on 7,240 female farmers who participated in A farmer who has been with us for a few school fees, 31 percent invest in new busi- One Acre Fund’s program. seasons starts to lease additional land from ness and farm activities, 24 percent pay for What’s next for One Acre Fund: The neighbors and purchase other innovative medical expenses and improved housing, organization aims to reach one million fami- products that can help them be even more and 12 percent buy more and better food. lies by 2020. “We have proven the program productive,” says Forti. “When the burden of hunger is lifted, people works, and we are now trying to scale direct Despite its NGO status, One Acre Fund become able to think bigger and move for- programs as quickly as we can by expanding operates like a business. “Farmers repay ward,” says Forti. into new countries and regions,” says Forti. the fund for its services at the end of every How the Satter Foundation has helped: One Acre Fund is also entering into policy season, which covers 70 to 80 percent of The foundation offered support to the orga- work by trying to get the US Congress and our field costs. Philanthropy covers the gap. nization when it was still in start-up mode. others to invest in small farmers (rather than Over the years, our model has become even “Despite it being risky capital, the foun - in temporary fixes like dropping food aid), more efficient, and that gap has narrowed,” dation provided $30,000 to cover the partnering with microfinance and financial says Forti. “When we first started, the differ- outstanding costs for women’s groups, who institutions to help them enter rural areas, ence was $100 per farmer. Now it’s closer are the majority of our customers,” says and advising African governments on how to to $25, making our donors’ gifts go further.” Forti. “It has given us $30,000 each year for better support farmers. A farmer collects high- quality seed and fertilizer during One Acre Fund’s first distribution of the planting season in Kisii, Kenya.

The Satter Foundation 2013 Annual Report | 14 & 15 JOFFREYBALLET

Members of the Joffrey Ballet’s rigorous two-year trainee program work toward profes- sional dance careers. They perform classical and contemporary works from the ballet’s repertoire and work with world- renowned guest choreographers.

The Satter Foundation 2013 Annual Report | 16 & 17 JOFFREYBALLET

Based in Chicago, the Joffrey Ballet is dedicated to artistic excellence and innovation and is committed to providing arts education and accessible dance training through its academy and community engage- ment programs. It aims to be the ballet company for and of the 21st century, engaging a wide and varied audience in the world of dance.

The Joffrey’s community outreach efforts reach about 7,000 7,000Chicago children each year.

Its methods: “People today want to be American, Asian, Latino, and international allows the Joffrey to apply the funds where transported in a short space of time, and dancers, and we’re committed to finding it most needs them. It has used them to in- so we have to present our audiences with the financial support to ensure that children crease dancers’ compensation so the ballet something that will instantly move them,” from all walks of life can become profes- can attract and retain high-quality dancers, says Ashley Wheater, the Joffrey’s artistic sional dancers.” and to provide opportunities for young, un- director. “We have to speak to our younger Its impact: The Joffrey’s community out- der-resourced people to dance, increasing audience by showing them their contem - reach efforts reach about 7,000 Chicago diversity in the field. “Without unrestricted poraries onstage and helping them identify children each year, and its trainee program giving, we would not be able to accomplish with the story, which was one of our focuses has matured. Nine current company mem- all that we need to do,” says Wheater. with our recent production of Romeo & bers have come up through the academy. The foundation’s multiyear support is also Juliet.” Engaging a younger audience builds Half were able to do so because they had vital to the organization. “It builds stabil - an important patron base for the future received financial support. The program’s ity and allows us to plan respectful and while expanding appreciation for dance. impact grows as these company members impactful ways to use the resources,” says The Joffrey operates a professional dance contribute their time and expertise to teach- Wheater, who also points out how ongoing, academy, which provides scholarships to ing and choreographing for the Lemonis unrestrictive funding allows the ballet to underserved children and teens. The Bridge Residency Program. This program focus on bringing on new donors. academy offers a pre-professional program, and its community outreach activities teach What’s next for the Joffrey Ballet: hosts open classes for the public, and runs self-expression, teamwork, and self-disci- Wheater is developing more creative the Lemonis Bridge Residency Program, pline. What’s more, says Wheater, “this works for the company. In particular, he which introduces first and second graders in exposure to art also has an impact on the wants to bring more women choreographers local public schools to the basic elements of child’s family, since many become more and designers into the creative process. classical ballet. focused on nutrition and health.” The Rudolf Nureyev Dance Foundation “To remain a world-class company, we need How the Satter Foundation has helped: awarded the Joffrey a $500,000 match- to nurture and retain excellent talent from The Satter Foundation has provided ing grant to create a narrative work that will all backgrounds,” says Wheater. “The com- $401,000 in unrestricted grants from help expand its audience and funding base. pany now is an amazing tapestry of African 2006 to 2013. The nature of these grants SATTERFOUNDATION2013 GRANTEES

100 Club of Chicago Ann & Robert H. Lurie Children’s Chi Psi Educational Trust Chicago, IL Hospital Nashville, TN www.100clubchicago.org Chicago, IL www.chipsi.org/?page=Governance_trust Supporting and honoring veterans www.luriechildrens.org Providing educational opportunities 2013 Grant Amount: $1,000 Providing health and human services 2013 Grant Amount: $1,000 Historical Grants Total: $14,500 2013 Grant Amount: $25,000 Historical Grants Total: $25,000 Historical Grants Total: $75,000 Academy for Urban School Chicago Botanic Garden Leadership The Art Institute of Chicago Glencoe, IL Chicago, IL Chicago, IL www.chicagobotanicgarden.org www.auslchicago.org www.artic.edu Protecting the environment and species Providing educational opportunities Supporting the arts 2013 Grant Amount: $5,000 2013 Grant Amount: $200,000 2013 Grant Amount: $1,000 Historical Grants Total: $40,000 Historical Grants Total: $600,000 Historical Grants Total: $30,000 Chicago Community Trust Alain Locke Charter School Berea College Chicago, IL Chicago, IL Berea, KY www.cct.org www.alainlocke.org www.berea.edu Providing educational opportunities Providing educational opportunities Providing educational opportunities 2013 Grant Amount: $100,000 2013 Grant Amount: $100,000 2013 Grant Amount: $10,000 Historical Grants Total: $100,000 Historical Grants Total: $200,000 Historical Grants Total: $205,000 Chicago Council on Global Affairs American Enterprise Institute Beyond Sports Foundation Chicago, IL Washington, DC Highland Park, IL www.thechicagocouncil.org www.aei.org www.beyondsports.org Promoting human rights and Promoting human rights Providing educational opportunities democracy and democracy 2013 Grant Amount: $125,000 2013 Grant Amount: $25,000 2013 Grant Amount: $100,000 Historical Grants Total: $400,000 Historical Grants Total: $180,000 Historical Grants Total: $356,000 Center for Safety and Change Chicago Lakeshore Global AmeriCares Foundation New City, NY Health Initiative Stamford, CT www.centerforsafetyandchange.org Chicago, IL www.americares.org Providing health and human services www.clsma.com/ghi Providing health and human services 2013 Grant Amount: $25,000 Providing health and human services 2013 Grant Amount: $100,000 Historical Grants Total: $25,000 2013 Grant Amount: $25,000 Historical Grants Total: $286,000 Historical Grants Total: $105,000

Beyond Sports Foundation’s student-athletes come from high schools all over Chicago. SATTERFOUNDATION2013 GRANTEES SATTERFOUNDATION2013 GRANTEES

Chicago Lyric Opera Conservation Fund Family Focus Chicago, IL Arlington, VA Chicago, IL www.lyricopera.org www.conservationfund.org www.family-focus.org Supporting the arts Protecting the environment and species Providing health and human services 2013 Grant Amount: $5,000 2013 Grant Amount: $5,000 2013 Grant Amount: $1,000 Historical Grants Total: $28,000 Historical Grants Total: $30,000 Historical Grants Total: $9,000

Chicago Symphony Orchestra Council on Foreign Relations Family Service of Chicago, IL New York, NY Winnetka - Northfield www.cso.org www.cfr.org Winnetka, IL Supporting the arts Promoting human rights and www.familyservicewn.org 2013 Grant Amount: $25,000 democracy Providing health and human services Historical Grants Total: $86,000 2013 Grant Amount: $50,000 2013 Grant Amount: $5,000 Historical Grants Total: $231,000 Historical Grants Total: $21,500 Chicago Zoological Institute Chicago, IL Doctors Without Borders Foundation for the Defense www.brookfieldzoo.org New York, NY of Democracies Protecting the environment and species www.doctorswithoutborders.org Washington, DC 2013 Grant Amount: $25,000 Providing health and human services www.defenddemocracy.org Historical Grants Total: $25,000 2013 Grant Amount: $100,000 Promoting human rights and Historical Grants Total: $251,000 democracy Child Mind Institute 2013 Grant Amount: $25,000 New York, NY Edify Historical Grants Total: $37,000 www.childmind.org San Diego, CA Providing health and human services www.edify.org Friedman Brain Institute 2013 Grant Amount: $25,000 Providing educational opportunities New York, NY Historical Grants Total: $80,000 2013 Grant Amount: $50,000 www.icahn.mssm.edu/institutes/friedman- Historical Grants Total: $75,000 brain-institute Comprehensive Development, Inc. Providing health and human services New York, NY Fairview Foundation 2013 Grant Amount: $200,000 www.cdi-ny.org Minneapolis, MN Historical Grants Total: $475,000 Providing educational opportunities www.fairview.org/giving Historical Grants Total: $22,000 Providing health and human services 2013 Grant Amount: $1,000 Historical Grants Total: $10,000

The Joffrey Ballet’s community engagement program teaches children from underserved communities life skills through dance.

The Satter Foundation 2013 Annual Report | 18 & 19 SATTERFOUNDATION2013 GRANTEES

Girls Incorporated Heifer International Joffrey Ballet New York, NY Little Rock, AR Chicago, IL www.girlsinc.org www.heifer.org www.joffrey.org Providing educational opportunities Building financial stability Supporting the arts 2013 Grant Amount: $35,000 and opportunity 2013 Grant Amount: $100,000 Historical Grants Total: $103,000 2013 Grant Amount: $15,000 Historical Grants Total: $401,000 Historical Grants Total: $60,000 Greater Chicago Food Depository Jumpstart Chicago, IL Human Rights Watch Boston, MA www.chicagosfoodbank.org New York, NY www.jstart.org Providing health and human services www.hrw.org Providing educational opportunities 2013 Grant Amount: $25,000 Promoting human rights and 2013 Grant Amount: $10,000 Historical Grants Total: $176,000 democracy Historical Grants Total: $20,000 2013 Grant Amount: $100,000 Greeley School Historical Grants Total: $427,000 KIPP Ascend Charter School Winnetka, IL Chicago, IL www.winnetka36.org/greeley Illinois Policy Institute www.kippchicago.org Providing educational opportunities Chicago, IL Providing educational opportunities 2013 Grant Amount: $50,000 www.illinoispolicy.org 2013 Grant Amount: $25,000 Historical Grants Total: $61,000 Building financial stability and Historical Grants Total: $90,000 opportunity Harvard Business School 2013 Grant Amount: $25,000 Mayo Foundation for Medical Boston, MA Historical Grants Total: $80,000 Education and Research www.hbs.edu Rochester, MN Providing educational opportunities Invest for Kids www.mayo.edu 2013 Grant Amount: $100,000 Chicago, IL Providing health and human services Historical Grants Total: $488,000 www.investforkidschicago.org 2013 Grant Amount: $100,000 Building financial stability and Historical Grants Total: $1,700,500 Harvard Law School opportunity Cambridge, MA 2013 Grant Amount: $5,000 Moving Picture Institute www.law.harvard.edu Historical Grants Total: $15,000 New York, NY Providing educational opportunities www.thempi.org 2013 Grant Amount: $100,000 Promoting human rights and Historical Grants Total: $622,500 democracy 2013 Grant Amount: $25,000 Historical Grants Total: $25,000

A One Acre Fund farmer in Busia, Kenya, harvests her maize.

The Satter Foundation 2013 Annual Report | 20 & 21 SATTERFOUNDATION2013 GRANTEES SATTERFOUNDATION2013 GRANTEES

Navy Seal Foundation NorthShore University Planned Parenthood Virginia Beach, VA HealthSystems Foundation Washington, DC www.navysealfoundation.org Evanston, IL www.plannedparenthood.org Supporting and honoring veterans www.foundation.northshore.org Providing health and human services 2013 Grant Amount: $100,000 Providing health and human services 2013 Grant Amount: $4,000 Historical Grants Total: $175,000 2013 Grant Amount: $80,000 Historical Grants Total: $24,000 Historical Grants Total: $580,000 New England Disabled Sports Rehabilitation Institute Lincoln, NH Northwestern University of Chicago www.nedisabledsports.org Evanston, IL Chicago, IL Supporting and honoring veterans www.northwestern.edu www.ric.org 2013 Grant Amount: $5,000 Providing educational opportunities Providing health and human services Historical Grants Total: $16,000 2013 Grant Amount: $483,333 2013 Grant Amount: $50,000 Historical Grants Total: $2,406,733 Historical Grants Total: $55,000 New Schools for Chicago Chicago, IL One Acre Fund Restoring the Art, Inc. www.newschoolsnow.org New York, NY Denver, CO Providing educational opportunities www.oneacrefund.org www.starkeyintl.com/restoring-the-art.html 2013 Grant Amount: $250,000 Building financial stability and Providing educational opportunities Historical Grants Total: $500,000 opportunity 2013 Grant Amount: $18,000 2013 Grant Amount: $30,000 Historical Grants Total: $69,000 New Venture Fund Historical Grants Total: $180,000 Washington, DC Robin Hood Foundation www.newventurefund.org Opportunity International New York, NY Promoting human rights and Oak Brook, IL www.robinhood.org democracy www.opportunity.org Building financial stability and 2013 Grant Amount: $500,000 Building financial stability and opportunity Historical Grants Total: $2,000,000 opportunity 2013 Grant Amount: $25,000 2013 Grant Amount: $200,000 Historical Grants Total: $415,000 Noble Network of Charter Historical Grants Total: $1,002,000 Schools Room to Read Chicago, IL Perspectives Charter Schools San Francisco, CA www.noblenetwork.org Chicago, IL www.roomtoread.org Providing educational opportunities www.pcsedu.org Providing educational opportunities 2013 Grant Amount: $100,000 Providing educational opportunities 2013 Grant Amount: $455,000 Historical Grants Total: $100,000 2013 Grant Amount: $25,000 Historical Grants Total: $3,129,000 Historical Grants Total: $50,000

In 2014, on average, Room to Read will establish a new library—like this one in Cambodia—every nine hours. SATTERSATTER FOUNDATIONFOUNDATION INCOME2013 ANDGRANTEES EXPENSES 2011-2013

Salvation Army The Jimmy Fund Winnetka Historical Society Alexandria, VA Brookline, MA Winnetka, IL www.salvationarmyusa.org www.jimmyfund.org www.winnetkahistory.org Building financial stability and Providing health and human services Providing educational opportunities opportunity 2013 Grant Amount: $1,000 2013 Grant Amount: $1,000 2013 Grant Amount: $25,000 Historical Grants Total: $11,500 Historical Grants Total: $24,500 Historical Grants Total: $133,400 The Nature Conservancy Winnetka Public Schools Samahope Arlington, VA Foundation San Francisco, CA www.nature.org Winnetka, IL www.samahope.org Protecting the environment and species www.wpsf.org Providing health and human services 2013 Grant Amount: $400,000 Providing educational opportunities 2013 Grant Amount: $5,000 Historical Grants Total: $2,893,800 2013 Grant Amount: $5,000 Historical Grants Total: $5,000 Historical Grants Total: $25,000 United Way Samasource Alexandria, VA Witness San Francisco, CA www.unitedway.org Brooklyn, NY www.samasource.org Building financial stability and www.witness.org Building financial stability and opportunity Promoting human rights and opportunity 2013 Grant Amount: $25,000 democracy 2013 Grant Amount: $25,000 Historical Grants Total: $230,500 2013 Grant Amount: $5,000 Historical Grants Total: $60,000 Historical Grants Total: $325,000 Wildlife Conservation Society Teach for America Washington, DC World Business Chicago New York, NY www.wcs.org Chicago, IL www.teachforamerica.org Protecting the environment and species www.worldbusinesschicago.com Providing educational opportunities 2013 Grant Amount: $100,000 Building financial stability and 2013 Grant Amount: $25,000 Historical Grants Total: $250,000 opportunity Historical Grants Total: $62,000 2013 Grant Amount: $100,000 Winnetka Community House Historical Grants Total: $200,000 Winnetka, IL www.winnetkacommunityhouse.org Providing health and human services 2013 Grant Amount: $1,000 Historical Grants Total: $28,000

In the Valdivian Coastal Reserve in Chile, a Nature Conservancy initiative will plant more than 2.5 million trees, recovering up to 3,500 hectares that were planted with nonnative eucalyptus. It’s Chile’s first project designed to generate carbon credits from preservation of native forest and the avoidance of deforestation and forest degradation.

SATTERSATTER FOUNDATIONFOUNDATION INCOME2013 ANDGRANTEES EXPENSES SATTER FOUNDATION ACCOUNTANT‘SACCOUNTANTS’ COMPILATION REPORT 2011-2013 SEPTEMBER 30, 2014

To: Management The Satter Foundation Chicago, IL

Accountants’ Compilation Report

We have compiled the accompanying statements of financial position of The Satter Foundation as of December 31, 2013 and 2012, and the related statements of activities and cash flows for the years then ended. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or provide any assurance about whether the financial statements are in accordance with accounting principles generally accepted in the United States of America. Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America and for designing, implementing, and maintaining internal control relevant to the preparation and fair presentation of the financial statements. Our responsibility is to conduct the compilation in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accoun- tants. The objective of a compilation is to assist management by presenting financial information in the form of financial statements without undertaking to obtain or provide any assurance that there are no material modifications that should be made to the financial statements. The supplemental schedule of investments held at year end as of December 31, 2013 and 2012 is presented for the purpose of additional analysis and is not a required part of the financial statements. The supplementary information has been compiled from information that is the representation of management. We have not audited or reviewed the supplementary information and, accordingly, do not express an opinion or provide any assurance on such supplementary information. We are not independent with respect to the Satter Foundation.

Certified Public Accountants Chicago, Illinois November 20, 2014

The Satter Foundation 2013 Annual Report | 22 & 23 SATTER FOUNDATION STATEMENTS OF FINANCIAL POSITION DECEMBER 31, 2013 AND 2012 (See Accountants’ Compilation Report)

2013 2012 ASSETS Cash and cash equivalents $ 11,154,853 $ 14,513,681 Distribution receivable 259,957 — Refundable income taxes 173,000 40,000 Marketable securities, at fair value 18,780,399 21,156,263 Alternative investments, at fair value 20,422,462 21,870,481 Other investments, at fair value 9,783,009 6,168,406 Investments, at cost 10,023,244 4,240,044

TOTAL ASSETS $ 70,596,924 $ 67,988,875

LIABILITIES AND NET ASSETS Liabilities: Deferred federal excise taxes $ 222,000 $ 150,000 Net Assets, unrestricted 70,374,924 67,838,875

TOTAL LIABILITIES AND NET ASSETS $ 70,596,924 $ 67,988,875

(The accompanying notes to financial statements are an integral part of these statements.) SATTER FOUNDATION STATEMENTS OF FINANCIAL POSITION SATTER FOUNDATION STATEMENTS OF ACTIVITIES DECEMBER 31, 2013 AND 2012 YEARS ENDED DECEMBER 31, 2013 AND 2012 (See Accountants’ Compilation Report) (See Accountants’ Compilation Report)

2013 2012 INVESTMENT INCOME AND LOSS Net unrealized gains (losses) on investments $ 7,194,480 $ (274,403) Net realized gains on investments 2,281,155 3,580,092 Dividends and interest 286,036 614,409 Investment management fees (666,301) (496,767) Partnership income (loss) (111,650) 756,739 Income tax expense (114,887) (208,661)

Net investment income $ 8,868,833 $ 3,971,409

EXPENSES Charitable contributions $ 5,709,583 $ 5,085,740 Administrative expenses 623,201 38,637

Total expenses $ 6,332,784 $ 5,124,377

CHANGE IN UNRESTRICTED NET ASSETS $ 2,536,049 $ (1,152,968) NET ASSETS, UNRESTRICTED Beginning of year $ 67,838,875 $ 68,991,843

End of year $ 70,374,924 $ 67,838,875

(The accompanying notes to financial statements are an integral part of these statements.)

The Satter Foundation 2013 Annual Report | 24 & 25 SATTER FOUNDATIONSATTER FOUNDATION SCHEDULE OF INCOME INVESTMENTS AND EXPENSES HELD AT YEAR END DECEMBER2011-2013 31, 2013 AND 2012 (See Accountants’ Compilation Report)

PHOTO CREDITS:

Cover Room to Read Page 1 One Acre Fund / Photo: Hailey Tucker Page 3 The Nature Conservancy / Photo: Ted Wood Page 4 Beyond Sports Foundation / Photo: Lenswork Studio Page 8 Room to Read Page 11 The Nature Conservancy / Photo: Nick Hall Page 12 Beyond Sports Foundation / Photo: Lenswork Studio Page 15 One Acre Fund / Photo: Hailey Tucker Page 16 Joffrey Ballet / Photo: Cheryl Mann Page 18 Beyond Sports Foundation / Photo: Lenswork Studio Page 19 Joffrey Ballet / Photo: Olu Akintorin Page 20 One Acre Fund / Photo: Hailey Tucker Page 21 Room to Read Page 22 The Nature Conservancy / Photo: Nick Hall

DESIGN: petertil design partners / petertil.com

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